FG, States, LGs Share N2.338trn August Revenue
By Victor Idajili
The Federation Account Allocation Committee has shared N2.338 trillion as August 2026 revenue among the Federal Government, states and the 774 local government councils.
The sharing was done at the September FAAC meeting held in Abuja on Thursday.
According to a communiqué issued at the end of the meeting, the N2.338 trillion distributable revenue was made up of N1.565 trillion statutory revenue and N773.233 billion from Value Added Tax.
Total gross revenue available in August was N3.685 trillion. From this, N125.142 billion was deducted as cost of collection, while N1.221 trillion went to transfers, refunds and savings.
The communiqué said gross statutory revenue for August was N2.850 trillion, which is N1.508 trillion less than the N4.359 trillion recorded in July.
VAT revenue, however, increased. N834.843 billion was realised from VAT in August, higher than the N793.968 billion in July by N40.875 billion.
From the total distributable sum of N2.338 trillion, the Federal Government got N804.897 billion, state governments received N794.313 billion, and local government councils got N555.142 billion. In addition, N184.388 billion, representing 13% derivation from mineral revenue, was shared to oil-producing states.
Breaking it down, from the N1.565 trillion distributable statutory revenue, the Federal Government received N727.573 billion, states got N369.035 billion, local councils got N284.511 billion, and N184.388 billion went to benefiting states as derivation.
From the N773.233 billion VAT revenue, the Federal Government received N77.323 billion, states got N425.278 billion, and local councils received N270.632 billion.
The communiqué noted that in August, Petroleum Profit Tax, Hydrocarbon Tax, VAT, CET Levies and Excise Duty recorded significant increases, while Company Income Tax, Capital Gains Tax, Stamp Duty, Petroleum Royalties, Mineral Royalties, Import Duty, gas flared penalties, rental, gas flared fees and miscellaneous oil revenue declined.
